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85-• 000235
<br />Lender's wntt.:n agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall he payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest r'rom the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br />interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />B. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condernmadon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of the Property. or part thereof, or for conveyance in lieu of condemnation. are hereby assigned
<br />and shall he paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall he applied to the sums secured by this Mortgage.
<br />with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall he applied to the sums secured by this Mortgage such proportion of the .proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor often to make
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br />mailed, Lender is authorized to collect and apply the proceeds, at fender's option, either to restoration or repair of the
<br />Property or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend '
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />16. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity. and may he exercised concurrently. independently or successively.
<br />13. Successors and As*ns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall he joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are no: to he used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) any notice to lender shall he given by certified mail, return receipt requested, to Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have been given to Borrower or lender when given in the manner designated herein.
<br />15. Uesfdorm Mortgrge; Governing Law; Severability. This form of mortgage combines uniform covenants for national
<br />use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Mortgage shali be governed by the law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Truer of the Property; Assumplioa. If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />gent or by operation of law upon the death of a joint tenant or
<br />- is ffilik'art iii Fempolosisso, Lender may, at Lender's option. declare all the sums secured by this Mortgage to be
<br />immediately dtre and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Leader
<br />shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by I ender. Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, 1_enler shall mail Borrower notice of acceleration in accordance with
<br />" tgraph 14 hereof. Such notice shall provide a period of not Icss than 30 days from the date the notice is mailed within
<br />h' rower may pay the sums declared due. if Borrower fails to pay such sums prior to the expiration of such period,
<br />Lelrodor may, without further notice or demand on Borrower• involve any remedies permitted by paragraph Ito hereof.
<br />NAN- Urttroam COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />It Ac Ion; Remedies. Except as provided In pairrograpis 17 hereof, upon Berrovoces breach of any covet of
<br />0 Soortrawator In Mc ago, including The covenants to pay when due any sums secured by the Mortgage.
<br />to toes to wee as pros Ided In paragraph 14 h specifying: (1) this ;
<br />(2) the ` to core soseh h1 (3) a deft, not hom than M days from the date the to
<br />by wM& each be c (4) that fmNure to cure such breach ties or before the dale specified in the widire
<br />is acceleration of the sums m by this Mortgage, foreclosure by lodichd piroacticifing and rale of the Property.
<br />The nasice Witter hOorm Burrower of the right to reinstate after acceleration and the right to assert M the forechisave
<br />proceeding Me nom-exhoollence of a defauth or any other defeure of Borrower to acceleration foreclosure, It the breach
<br />Is rolt cured an or before the die specified In the twlke. Len;fer at Lender's option, may Aare all of the suits secured by
<br />this Mortgage to be immediately due mad payable without further demand and may foreckne by judicial protTedleg. Leader
<br />sMU k a~ to coillect fn, surh proceeding all expenses of foretknoure, including, but not limited ter, ergs of documovalsey
<br />evidence. aboirsoris and iftle reports.
<br />19. Barrawces Right to Rehissimir. Notwithstanding I euder's accetctatiou ,d the .rims w,oted 1,e this Mortgage.
<br />Borrower shall have the right to }cave any proceedings Ingun by I ender to endorse thi+ Mortgage discc.utiraied it auy time
<br />N1PA 8/84
<br />eX'les 1984A
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